Weekly Carbon Outlook – Apr 3, 2017

April 3, 2017 by Billy Hamshaw

(See below to download report)

Trading Report

  • Trading activities reached a year-long high with a total of 16,149,000 in traded volume
  • Undersubscribed Feb auction leads to surge in interest in V 2017.
  • OCA’s Dec 17 benchmark trading at CA$ 18.41 (US$13.82), a premium of USD 0.01 0ver CCA equivalent

Price Expectations

  • A subscription ratio of 0.75% in the next two auction and 100% in the Nov auction might create an annual cumulative shortage of 6 million
  • Ontario’s market participants awaits the auctions results to be announced later tonight
  • Expected V17 ranges: $13.61- $13.65 (Front); $13.78- $13.82(2017 Benchmark)

CCO Tracker

  • 116,000 ROCs issued across three livestock projects and one forestry project.
  • Big Valley (CAR1092) latest of Sierra Pacific Industries string of forestry projects to receive ROCs this year
  • Camco’s Rosendale Anaerobic Digester (CAR1122) and Synergy Biogas LLC (ACR235) issued 36,380 and 8,081 registry credits for new reporting periods.
  • Kettle Butte Digester (ACR349) handed 19,666 ROCs in Idaho.
  • Three new verification appointments for Ruby Canyon Engineering and one for SCS Engineers.
  • Offset prices up from previous week closing at $10.44, $10.94, $12.10 for CCO-8s, 3s and Goldens respectively.

Policy Tracker

  • AB 151 – It would now no longer  limit the applicability of the cap-and-trade regulation beyond 2020

Key Dates

  • Apr 04 – ARB Public workshop meeting on Low Carbon Fuel Standard Lifecycle Assessment Modelling
  • Apr 06 – ARB Public workshop on the fiscal year 2017-18 funding plan for low carbon transportation investments, air quality improvement program, and potential $25 million Volkswagen settlement funds

Download this report (pdf)

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